Online Banking System Research Articles

Competitive Analysis of the Russian Online Banking Market

The functioning of the digital economy determines the introduction of Internet technologies in almost all areas of business. In recent years, online banking systems have become widespread in Russia, which contribute to the appearance of new competitive factors in the banking services market. By providing services via the Internet, the banks can improve their financial performance and effectiveness by offering customers more services in a convenient format and on the most profitable conditions. Nowadays online banking as a tool for providing banking services is crucially important for the improvement of a commercial bank’ competitiveness. This work is a research of the modern Russian online banking market, which is devoted to the competitive analysis of its participants using marketing instruments and Internet resources. The purpose of the study is to develop practical recommendations for improving companies’ competitiveness in the Russian online banking market on a concrete example.

A Novel Method for Detection of Fraudulent Bank Transactions using Multi-Layer Neural Networks with Adaptive Learning Rate

Fraud refers to earn wealth including property, goods and services through immoral and non-legal channels. Fraud has always been in action and experiences an increasing trend worldwide. Fraud in financial transactions not only leads to losing huge financial resources, but also leads to reduction in trust of customers on using modern banking systems and hence, reduction in efficiency of the systems and optimal management of financial transactions. In recent years, by emerging new technologiesofbankingindustry,newmeansoffraudarediscovered. Althoughanewinformationsystem carry advantages and benefits, new opportunities are made for fraudsters. The applications of fraud detection methods encompasses detection of frauds in an organization, analysis of frauds and also user/customer behavior analytics in order to predict future behavior and reduce the fraud risks. In recentdecades, employingnewtechnologiesinmanagementofbankingtransactionshasrisen. Banks and financial institutions inevitably migrated from traditional banking to modern online banking to provide effective services. Although, the use of online banking systems improves the management of financial processes and speeds up services to customers of institutions, but some issues would also be carried. Financial frauds is one of the issues which organizations seek to prevent and reduce effects. Inthispaper, anovelmachinelearningbasedmodelispresentedtodetectfraudinelectronic banking transactions using profile data of bank customers. In the proposed method, transactional data from banks are leveraged and a multi-layer perceptron neural network with adaptive learning rate is trained to prove the validity of a transaction and hence, improve the fraud detection in electronicbanking. Theproposedmethodshowspromisingresultscomparedwithlogisticregressionand support vector machines.

A Review of User Authentication Model for Online Banking System based on Mobile IMEI Number

The traditional banking system, such as transactions over the counter using bank book is enhanced by adding the elements of electronic banking, where nowadays all transaction can be done over the network, because of globalization and the advancement of information and communication technology. However, significant threats to this technology also come in parallel, such as from banking frauds. This is why building trust among banking users by providing security mechanisms is very important. In the electronic banking, security mechanisms mainly focus on proving a secure environment for the online transaction, especially user authentication. Many researchers have been proposed various models for the online user access authentication for the banking industry. Most of the researches are based on traditional the form of username and password, but with the varying mechanism of password forms. For example, password in arbitrary value, password in arbitrary value through secured channel, as well as biometric like fingerprint recognition, voice recognition, or retina recognition. In this paper we reviewed the current existing user access for online banking based on mobile phone, the functions of the SIM card, the characteristics mobile of the SIM card are described. Cloning, a threat to the SIM card is also described. Findings show that all the security model for online user access contains password in the form of value, biometric, or PIN. Thus, none of the existing user access proposed the idea of the user access based on International Mobile Equipment Identity (IMEI) number to strength the security of the user access. The IMEI is a 15- or 17-digit code that uniquely identifies mobile phone sets.

Perception and prediction of intention to use online banking systems

Online banking has become a vital instrument for delivering quality and easily reached banking services at the lowest possible time with ensuring affordability both for customers and service providers. Although this banking has huge potentials and benefits, the successful adoption of online banking remains a significant challenge in the context of an emerging economy like Bangladesh. The purpose of this empirical study is to investigate the factors influencing the online banking services adoption in Bangladesh by using the extended Technology Acceptance Model (TAM) with government support and risk factors. A questionnaire survey method was used to collect data from 380 banking customers. To analyse the collected survey data and test the set of hypothesis, a structural equation modelling (SEM) method was used with the help of SmartPLS3 package. The results illustrate that perceived ease of use, perceived usefulness, attitude towards use, government support positively influence the intention to use as well as the intention to use positively impact on intention to continue to the adoption of online banking services. However, the relationship between risk and intention to use was statistically insignificant. Finally, the findings may assist banking professionals and programmers to develop and design successful policies regarding online banking services to boost this service industry in the future.

Overview of Intelligent Online Banking System Based on HERCULES Architecture

The online banking transaction system is the application system with the most complex business, the most demanded, and frequent version updates in the software engineering application system. The existing online banking business sub-module is intelligent and faces major challenges in security. Traditional online banking systems cannot meet this capability. This article combines machine learning and online banking business module design to implement a business agent online banking system based on a new architecture. The article first proposes new features and new challenges of the online banking system, discusses the technical problems solved by the intelligent online banking system, and analyzes HERCULES Architecture business intelligent machine learning algorithm model, smart deposits and white-collar loans and other core processes, and then designed and implemented an intelligent online banking system business model, focusing on the issues of the intelligent online banking system, soft load balancing implementation and transaction security, through business implementation The effectiveness of the proposed business agent is verified. The actual use results show that the intelligent online banking of the HERCULES architecture has greatly improved the intelligence and security of the traditional online banking system. Finally, we summarize and analyze the value and innovation of the intelligent online banking system, and look forward to the shortcomings of the system.

Stochastic Workflow Authorizations with Queueing Constraints

Cloud-based workflow architecture has been widely used in e-science, e-business, smart city, and others, to automate business processes and improve their flexibility and maintainability. Online workflow executes in a collaborative and distributed environment and is prone to fraud and information leakage. Workflow authorization models are implemented to ensure that tasks are performed by authorized subjects with compliance of security/privacy polices. However, existing workflow authorization models have some limitations. First, most of the existing research focuses on static workflows, where an order arriving at a workflow traverses tasks in a fixed sequence. In many real applications, however, task routing is not deterministic, having a probability distribution or pattern that may be estimated from historical data. Second, existing research ignores practical resource constraints, like user utilization, order waiting time, etc. To address the limitations, this article studies the workflow authorization model under the more realistic dynamic settings. We formulate a workflow as a queueing system, so business constraints can be analytically represented, under reasonable assumptions. We model the studied problems as pseudo-Boolean satisfiaiblity problems and investigate their theoretical properties. We also develop algorithms and carry out computational studies. The experimental results show the effectiveness and efficiency of our developed solutions. Our research results are useful for production and process design in many real-life settings such as health care, online banking and electronic payment systems.

Multidimensional: User with File Content and Server’s Status Based Authentication for Secure File Operations in Cloud

The popularity of data storage in cloud servers is getting more and more favoured in recent times. Its ease of storage, availability and synchronization of personalized cloud file storage using client applications made cloud storage more popular than ever. In cloud storage system, using a basic authentication method like username and password are still one of the most popular forms of authentication. However, the security ensure by such traditional authentication method is weak and vulnerable because the user name and password can be compromised by intruders or the user account can be left open by forgetting to logoff in public computers, leading to exposure of information to unauthorised users and hackers. In recent years, using a two-factor authentication has become a trend throughout network-based cloud services, online banking system and any form of services that requires user authentication. Here, in this paper a second layer authentication in the form of session key is used to ensure the authenticity of the activities of the user after user’s web-based account is logged-in successfully. The interesting and the critical contribution in this paper is the way the session key is generated and delivers to the authentic user. The key is generated by using the hash value of the file content, file size, file last modified, pseudo-random generated by the server using CPU temperature, clock speed, system time, and network packet timings, and user based 8 digit random position selection from a 32 digit Hex to mitigate against the attacker while performing vital file activities which may lead to data lost or data destruction or when user’s credentials are compromised.

Senior Citizens’ Intention to use Digital Banking (With special reference to selected Commercial Bank in Sri Lanka)

This paper examines Senior Citizens’ intention towards using digital banking in a context where there is a rapid development in online banking systems in Sri Lanka. It was revealed that most of the Senior Citizens are away from the digital banking platform even though bank has made huge investments for the implementation of the digital banking systems. Therefore, the aim of this research is to investigate the impact of perceived usefulness and perceived ease of use, on the behavioral intention of Senior Citizen to use the digital banking system with the application of Technology Acceptance Model (TAM). The structured questionnaire used as the main instrument in gathering primary data from 200 respondents from 20 branches of the selected commercial banks using convining sampling method. This study investigated that there is a positive relationship between perceived usefulness and beheviroal intention, also between perceived ease of use and beheviroal intention.

Can Skeuomorphic Design Provide a Better Online Banking User Experience for Older Adults?

With the prevalence of digital technologies and internet connectivity, combined with the reduction in footfall on high streets, banks have taken steps to move most of their customer base online. This has left many older adults behind, trying to keep up with the changes and having to learn to use sometimes complex online banking interfaces. In this work we investigate whether skeuomorphic design can create a more usable online banking system for older adults, compared to the more commonplace flat design. This work took a user-centered approach, beginning with interviews with older adults that were conducted to gather data to be used in the production of prototype user interfaces. Two prototypes were then created: a flat user interface and a skeuomorphic one. We evaluated these interfaces with 15 older adults, gathering a combination of data, including data from the System Usability Scale, observations, and interviews. Results of the experiments showed that our older users preferred the flat prototype to the skeuomorphic one, but raised some potentially useful guidelines for the design of future skeuomorphic user interfaces for older adults. A validation experiment with 17 younger adults (aged 20–25) also showed that the skeuomorphic interface was more usable for older adults than younger ones.

A study of the effects of online banking quality gaps on customers’ perception in Saudi Arabia

Recent advancements in technology during the last decade has had an essential impact on the banking industry, and the recent rapid growth and expansion of online banking in Saudi Arabia is incontestable. The application of technology is essential in the banking industry to provide exceptional service to customers when using Online Banking (OB). This study aims to develop a conceptual framework of OB by understanding the interaction of stakeholders in the banking industry, and to identify the quality gaps of OB based on a relevant literature. Five quality gaps for OB and three phases of customer interaction with online banking systems were identified. Therefore, the ultimate objective of this research is to measure the influence of such quality gaps on customers’ willingness to use OB in Saudi Arabia as well as customer satisfaction toward OB. Technology and human interaction gaps were found to have a significant effect on customers’ willingness to use OB. Furthermore, service reliability, technical knowledge, and human interaction gaps were found to significantly influence customer satisfaction in OB.

A Proposed Framework for the Security of Financial Systems

Objectives: This study proposes a framework for the enhancement the security level of the eBanking or online banking systems. Methods/Statistical Analysis: Financial system has been categorically considered as a major critical infrastructure of community, society and country. In addition, the constantly rising number of breaching attacks increased and targeted via Internet. It is therefore recommended to provide more security to such systems from malicious activities. In this regard, this study overviews comprehensive highlighted security challenges, security attacks. In addition, a security framework is also proposed to enhance the security level of discussed systems. Findings: The proposed framework of the system is categorized into two: The first one category discusses Network Standards for the Security of System and the second category is based on architecture of the system. In Network Standards for the Security of System, two standards are defined, one for wired connection while others for wireless connections. The second part is most significant section of the paper, which is comprised of three stages. Stage one comprises basic Security requirements, Stage two defines parameters of Wireless Security design and the third stage deploy security algorithms and techniques to offer secure network. Availability, Reliability, Authentication, Access Control, Information and Message Confidentiality, Information and Message Integrity, Reliable Message Delivery, Non-repudiation are basic requirements are basic requirements. Authentication, Authorization, Secrecy Capacity, Intercept Probability, Complexity, Encryption and Latency are major parameters while Theoretic security, Security diversity methods, Artificial Noise aided security, Physical layer secret key generation and Security oriented beam forming are defined algorithms in this study. Application/Improvements: The proposed framework includes two major parts. First part is about enhanced Network Standards for the Security of System while second part illustrates architecture of the proposed framework. Keywords: Algorithms, Financial System, Framework, Network Standards, Security

Improving Net Banking Security with Face Recognition Based Bio-Metric Verification

Internet banking services must be more responsive towards security requirements. Now a days with the network world, the way for cybercrime is become easier for hacking purpose. Because of this reason, network security has become one of the biggest concerns of today security environment. While there is no doubt that Internet banking transaction must have layered safety towards protection threats, the vendors should technique protection issues as part of their provider services. And heard a lot about hackers and crackers ways to steal any logical password or pincode number character, crimes of ID cards or credit cards fraud or security breaches. In existing work, Identification can be processed to a username and is used to authorize access to a system. As usernames can be lost or stolen, it is necessary to validate that the intended user is really the person he or she claims to be – the authentication process. Biometric based totally authentication and identification structures are the new answers to deal with the issues of safety and privacy. The Face Recognition is the examine of physical or behavioral traits of individual used for the identification of individual. These biometric characteristics of a person include the various features like fingerprints, face, hand geometry, voice, and iris biometric device. Here implement real time secure authentication system using face biometrics for authorized the person for online banking system. The general objective of our project is to develop fully functional face recognition, verification system provide and understand the key aspects of these major technologies, social environmental system and performance aspects. And also provide multiparty access system to allow the multiple persons to access the same accounts by providing access privileges to original account holders. Experimental results show that the proposed system provide high level security in online transaction system than the existing traditional cryptography approach

Anomaly Based Detection and Prevention of Phishing Attack in An Online Banking System

Anomaly Based Detection and Prevention of Phishing Attack in An Online Banking System

Valuation of the Quality Attributes of Online Banking Services by Small and Medium Enterprises Engaged in International Trade

AbstractThis study investigates the important attributes of online banking system for Small and Medium Enterprises (SMEs) and their willingness to pay for each attribute. Zero travel and waiting time, high security, and 24/7 accessibility are the key attributes for this service. The results show that SMEs engaged in international trade value online banking services significantly more than the others. Domestically focused firms value high‐quality service at about $163 a month, while import‐focused businesses value such a service at approximately US$646 per month. Export‐intensive SMEs value high‐quality online services 14% further, for an average of $736 per month.

A Software Development Methodology for Secure Web Application

In recent years, there has been a demand for Web applications with complex functions. In addition, most web applications efficiently manage data based on databases. While the key and critical dimension of developing these Web applications is analysis and design, most object-oriented analysis and design methods do not have a consistent view of the database. In addition, Java Enterprise Edition (EE) -based technologies are used in Web application implementations, but they do not provide any correlation with the database. On the other hand, as users' demands for security increase, security becomes more important. To this end, Java EE and database systems provide security solutions. However, it does not provide any correlation with object-oriented analysis and design methodology. As a result, it is difficult to develop secure web applications in a consistent way from analysis to implementation. In this paper, we propose a consistent software development methodology from analysis to implementation of secure web applications. The proposed software development methodology for web application development uses UMLsec, a security-emphasized modeling language, and object-relational (O-R) mapping for relational database design. It also uses Java servlets and SQL to implement analysis and design results based on role-based access control (RBAC). The software development methodology for the secure web application proposed in this paper has been applied to the development of the online banking system, from the design stage of the user's requirements analysis to the implementation of the web application.

LsSQLIDP : Literature survey on SQL injection detection and prevention techniques

Every smallest service on the internet is made available through web applications. Services like online shopping, online banking system, e-booking system for railways or airlines and many more are all available at your doorstep with the help of internet. With these numerous applications comes the bulk amount of data they store on daily basis in their backend databases. The issue is how to store the data in an efficient and secure manner so that it should not be misused. Nowadays most of the applications use Cloud storage for this purpose. But is the data really secured on Cloud? With the increasing cases of cyber attacks one can figure out the answer to this question. The attacks like code injection attacks, denial of service attack, spoofing, phishing attack, http flood attack et al. are some of the major attacks challenging the protection of these applications. One of the major harmful attacks is SQL injection attacks (SQLinAs). There are several detection and prevention techniques for the same yet the applications are highly vulnerable to SQLinAs. To better understand the attack, all the existing types, detection and prevention techniques for SQLinAs are analyzed and showcased in this paper.

Stages in the development of consumers' online trust as mediating variable in online banking system: a proposed model

Several studies suggest that consumers have not adopted online banking system to the same degree primarily because of online trust related issues. It is a long-term barrier for realising the potentials of B2C banking innovations. However, current literature relating to trust in online banking arguably falls short in at least two areas. First, lack of comprehensive study detailing the stages of trust as mediating variable between antecedents and consequence in order to understand consumers' online trust formation on self-service technologies. Second, most prior studies focus only on the general concept and effect of trust on consumer behavioural intention, adoption decision, and utilisation of innovations. This study tries to fill these gaps by systematically analysing online trust based on behavioural adoption models and technology acceptance theories as a fundamental prerequisite of B2C relationship in the retail industry, leading to the positive adoption of innovation.

Stages in the development of consumers' online trust as mediating variable in online banking system: a proposed model

Several studies suggest that consumers have not adopted online banking system to the same degree primarily because of online trust related issues. It is a long-term barrier for realising the potentials of B2C banking innovations. However, current literature relating to trust in online banking arguably falls short in at least two areas. First, lack of comprehensive study detailing the stages of trust as mediating variable between antecedents and consequence in order to understand consumers' online trust formation on self-service technologies. Second, most prior studies focus only on the general concept and effect of trust on consumer behavioural intention, adoption decision, and utilisation of innovations. This study tries to fill these gaps by systematically analysing online trust based on behavioural adoption models and technology acceptance theories as a fundamental prerequisite of B2C relationship in the retail industry, leading to the positive adoption of innovation.

Modelling the barriers to online banking in the Indian scenario: an ISM approach

PurposeOnline banking, a phenomenon widely adopted and appreciated in developing and developed countries, is becoming an essential part of the lives of people from all walks of life, but there exist a good fraction of customers resisting these services. Therefore, the purpose of this paper is to identify the barriers generating resistance to online banking. The special focus of the paper is to explore resistance among bank customers who already have valid contracts for online banking but still prefer to approach the traditional branches for transactions.Design/methodology/approachTo achieve the objective, interpretive structural modelling (ISM) with cross-impact matrix multiplication applied to classification (MICMAC) approach is used to investigate the interrelationships among the barriers to online banking.FindingsOnline banking, although proven to be a glorious innovation, has still not been adopted by all, and hence, has not met all the expectations of banks and banking sector. The outcome shows that the online illiteracy and online unawareness are the most important barriers and these two are working as the root cause and demand strong attention on part of the banking sector which is working towards the inclusion of customers to online banking. These findings may help the Indian banking sector in identifying the crucial points that affect online banking system in India the most.Originality/valueThis research explored the interactions among the barriers to online banking in the Indian scenario and revealed significant results through the ISM-based technique.

DETERMINANTS OF THE SAFETY OF THE ELECTRONIC DAILY TRANSFER IN THE CONTEXT OF GLOBAL TRENDS ON THE INTERNET DEVELOPMENT OF THE MOBILE BANKING

Technological progress and the ongoing globalization processes determine new challenges for the protection, electronic transmission and processing of data, including classified information. According to the guidelines of the European Union Directive of 1995 in the perspective of the development of the Internet and digital society, the ICT infrastructure of individual entities should be modernized and adapted in order to guarantee the right to protect electronically-available information. The development of techniques for processing and providing information via the Internet is determined by many facilities for beneficiaries, clients and people using information services of public sector institutions. In addition, there is a possibility of a significant reduction of transaction costs of financial operations and electronic data transfer. On the other hand, the development of information technologies functioning on the Internet also involves the risk of loss or theft of information by unqualified entities. The process of providing information via the Internet generates many threats related to crime of identity theft, interception of classified data by hackers and impersonation of monetary funds in electronic banking systems. In response to these threats, individual entities, including institutions of the financial sector, develop security systems for remote sharing of information and transactions carried out via the Internet. Currently, the process of improving techniques ensuring a certain level of Internet data transfer security is being continued. Procedures for safe processing, storage and sharing of information in online banking systems are improved. Gradually, national legal regulations are being supplemented, taking into account new emerging technological innovations and technologies of electronic data transfer on the Internet.